China’s Stocks Surge in Late Trading to Halt Five-Day Plunge
Europe Stocks Rebound as Chinese Selloff Halts
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China’s stocks rallied after the Shanghai Composite Index’s steepest five-day rout since 1996 amid speculation state funds have resumed buying.
The benchmark gauge jumped 5.3 percent to 3,083.59 at the close, with all of the gains coming in the last 45 minutes of trading. About 13 stocks rose for each that fell, with financial shares surging the most in a month. The Shanghai index tumbled 23 percent to an eight-month low in the past five days.